We bought a piece of land in Chincoteague Virginia in 1973. We could not sell it until 2014 because the land did not perk and we would have lost money. We installed a high tech septic system in 2015 and started trying to sell it. It eventually sold in 2020.
Question: can we deduct costs incurred keeping the land cleared and mowed from 2015 to 2020?
Can we deduct travel from our home in Springfield Virginia to Chincoteague to meet with real estate agents, check on the property, meet with individuals we hired to keep it clear?
Thanks in advance,
